NOTE 11 – BANK DEPOSITS

Bank deposits include Negotiable Order of Withdrawal (“NOW”) accounts, demand deposits, savings and money market accounts and certificates of deposit. The following table presents a summary of bank deposits including the weighted-average rate:

	Year ended September 30,
	2011					2010
	Balance		Weighted-average rate (1)			Balance		Weighted-average rate (1)
	($ in thousands)
Bank deposits:
NOW accounts	$	4,183		0.01	%	$	3,563		0.01	%
Demand deposits (non-interest-bearing)		21,663		-			3,089		-
Savings and money market accounts (2)		7,468,136		0.08	%		6,855,490		0.12	%
Certificates of deposit		245,340		2.37	%		217,576		2.94	%
Total bank deposits(3)	$	7,739,322		0.15	%	$	7,079,718		0.21	%

(1)	Weighted-average rate calculation is based on the actual deposit balances at September 30, 2011 and 2010, respectively.

(2)

Bank deposits at September 30, 2010 include additional deposits received through the Raymond James Bank Deposit Program (“RJBDP”) associated with the point-in-time regulatory balance sheet composition requirements of RJ Bank. These deposits were redirected in October, 2010 to other RJBDP participating banks

(3)	Bank deposits exclude affiliate deposits of approximately $250 million and $400 million at September 30, 2011 and 2010, respectively.

RJ Bank's savings and money market accounts in the table above consist primarily of deposits that are cash balances swept from the investment accounts maintained at RJ&A. These balances are held in Federal Deposit Insurance Corporation (“FDIC”) insured bank accounts through the RJBDP administered by RJ&A.

Scheduled maturities of certificates of deposit are as follows:

	Year ended September 30,
	2011				2010
	Denominations greater than or equal to $100,000		Denominations less than $100,000		Denominations greater than or equal to $100,000		Denominations less than $100,000
	(in thousands)

Three months or less	$	7,403	$	7,977	$	6,378	$	10,734
Over three through six months		6,408		6,153		5,098		10,921
Over six through twelve months		6,711		15,103		14,982		26,387
Over one through two years		19,567		19,862		6,925		15,905
Over two through three years		10,045		17,286		16,084		14,621
Over three through four years		29,136		36,271		9,064		14,349
Over four through five years		34,349		29,069		29,806		36,322
Total	$	113,619	$	131,721	$	88,337	$	129,239

Interest expense on deposits is summarized as follows:

	Year ended September 30,
	2011		2010		2009


Certificates of deposit	$	6,228	$	6,563	$	8,229
Money market, savings and NOW accounts(1)		6,315		9,480		15,794
Total interest expense on deposits	$	12,543	$	16,043	$	24,023

(1)	Excludes interest expense on affiliate deposits of $62 thousand and $10 thousand at September 30, 2011 and 2010, respectively. There were no affiliate deposits held by RJ Bank at September 30, 2009.